~~10–11% since 1979
Portfolio value
$33.5B
Positions
60
Top 5 concentration
22%
New buys this quarter
1
| Stock | Move | % of portfolio | Value |
|---|---|---|---|
| $GOOG Alphabet, Inc. | Held | 5.1% | $1.7B |
| $BDX Becton Dickinson & Co. | Held | 4.9% | $1.6B |
| $META Meta Platforms, Inc. | Trimmed | 4.9% | $1.6B |
| $HCA HCA Healthcare, Inc. | Trimmed | 3.6% | $1.2B |
| $CHRW CH Robinson Worldwide, Inc. | Trimmed | 3.4% | $1.1B |
| $SLB SLB Ltd. | Held | 3% | $991M |
| $ELV Elevance Health, Inc. | Held | 2.9% | $984M |
| $ORCL Oracle Corp. | Trimmed | 2.9% | $983M |
| $IMO.TO Imperial Oil Ltd. | Trimmed | 2.9% | $962M |
| $BNY Bank of New York Mellon Corp. (The) | Trimmed | 2.5% | $837M |
| $PM Philip Morris International, Inc. | Trimmed | 2.3% | $766M |
| $CRM Salesforce, Inc. | Added | 2.3% | $756M |
| $XOM Exxon Mobil Corp. | Held | 2.2% | $750M |
| $CMCSA Comcast Corp. | Held | 2.2% | $743M |
| $EXPD Expeditors International of Washington, Inc. | Held | 2.2% | $735M |
| $WPM.TO Wheaton Precious Metals Corp. | Trimmed | 2.1% | $711M |
| $WY Weyerhaeuser Co. | Added | 2.1% | $710M |
| $FMX Fomento Economico Mexicano SAB de CV | Held | 2.1% | $697M |
| $TSM Taiwan Semiconductor Manufacturing Co. Ltd. | Trimmed | 2.1% | $696M |
| $WDAY Workday, Inc. | Added | 2% | $686M |
| $OKE ONEOK, Inc. | Added | 1.9% | $651M |
| $UHS Universal Health Services, Inc. | Trimmed | 1.9% | $626M |
| $FNV.TO Franco-Nevada Corp. | Held | 1.7% | $568M |
| $ABX.TO Barrick Mining Corp. | Trimmed | 1.7% | $560M |
| $BIO Bio-Rad Laboratories, Inc. | Held | 1.6% | $552M |
| $POW.TO Power Corp. of Canada | Held | 1.6% | $543M |
| $NEM Newmont Corp. | Trimmed | 1.6% | $542M |
| $PPG PPG Industries, Inc. | Held | 1.6% | $535M |
| $CHTR Charter Communications, Inc. | Added | 1.6% | $527M |
| $TXN Texas Instruments, Inc. | Held | 1.6% | $527M |
| $NOV NOV, Inc. | Trimmed | 1.4% | $483M |
| $CL Colgate-Palmolive Co. | Held | 1.4% | $482M |
| $ABEV Ambev SA | Held | 1.4% | $464M |
| $DG Dollar General Corp. | Trimmed | 1.4% | $457M |
| $IFF International Flavors & Fragrances, Inc. | Held | 1.3% | $452M |
| $NTR.TO Nutrien Ltd. | Held | 1.3% | $444M |
| $ADI Analog Devices, Inc. | Held | 1.3% | $433M |
| $AXP American Express Co. | Trimmed | 1.2% | $419M |
| $EQR Equity Residential | Held | 1.1% | $386M |
| $AEM.TO Agnico Eagle Mines Ltd. | Held | 1.1% | $380M |
| $OMC Omnicom Group, Inc. | Held | 1% | $348M |
| $GOOGL Alphabet, Inc. | Trimmed | 1% | $341M |
| $USB US Bancorp | Held | 1% | $335M |
| $BRK-A Berkshire Hathaway, Inc. | Held | 0.9% | $314M |
| $CMI Cummins, Inc. | Trimmed | 0.9% | $313M |
| $IPGP IPG Photonics Corp. | Held | 0.9% | $307M |
| $DIS Walt Disney Co. (The) | Held | 0.8% | $282M |
| $EXR Extra Space Storage, Inc. | Added | 0.8% | $256M |
| $FNF Fidelity National Financial, Inc. | Added | 0.7% | $248M |
| $FISV Fiserv, Inc. | New buy | 0.7% | $244M |
Showing top 50 of 60 equity positions (this fund runs a diversified book).
Source: SEC N-PORT via FMP · Jan 2026 report · monthly portfolio, public with a delay. Long equity positions only. Not financial advice.